Details of Wilcon Depot’s IPO in March 2017

Wilcon Depot Inc., a retailer of home improvement and construction supplies, is set to proceed with its initial public offering or IPO in the Philippine Stock Exchange (PSE) this March 2017.

The company plans to raise as much as P7.9 billion from the said offering by issuing up to 1.39 billion common shares to the public.

Price and Listing Date

Update: On Friday, March 17, Wilcon Depot announced that the stock’s official offer price has been set at P5.05 per share.

The offer period will begin on March 20 and will end on March 24.

The listing date of Wilcon’s shares (when stocks will be listed and will start trading on the PSE) is on March 31, 2017.

Use of IPO Proceeds

The company intends to use P6.08 billion from the expected proceeds for store network expansion until 2019.

The company has announced plans to expand presence in areas including Isabela, Tuguegarao, Cabanatuan, Cavite, Lucena, Bicol, Iloilo, Tacloban, Zamboanga, Davao, Tagum, General Santos, and Surigao.

The company will also use P1 billion from the IPO proceeds to repay outstanding debt with banks, such as Allied Bank, BDO Unibank, Bank of the Philippine Islands, and Rizal Commercial Banking Corporation.

Remainder of the proceeds will be used for general corporate purposes and to fund strategic acquisitions of Wilcon Depot, according to its IPO prospectus.

Offered Shares

At least 70% of the offer shares will be sold to qualified institutional buyers and the general public while 20% of the shares are to be sold through trading participants of the Philippine Stock Exchange.

The remaining 10% will be allocated to small local investors.

Wilcon has appointed First Metro Investment Corp. as issue manager, bookrunner, and lead underwriter for the IPO.

Company Background

Wilcon Depot is primarily owned by the Belo family, led by its chairman William T. Belo. It operates its stores under the Wilcon Depot and Wilcon Home Essentials store formats.

The company opened its first store in 1977 and has since expanded to a network of 36 branches nationwide. It sells home improvement and construction supplies, including tiles and flooring, plumbing and sanitary wares, electrical and lighting products, hardware and tools, furniture, furnishings and houseware, paints, and building materials, among others.

Past IPOs in 2016 and Planned IPOs in 2017

If the IPO pushes through, Wilcon will be one of the first companies to IPO in 2017.

Other firms that have announced plans for an IPO this year include:

  • Audiowav Media Inc. (P2.66 billion)
  • TVI Resource Development (Philippines) Inc. (P1.66 billion)
  • Pointwest Technologies Corp. (P2.21 billion)
  • Green Power Panay Philippines Inc. (P222.8 million)
  • Bermaz Auto Philippines (distributor or Mazda Philippines)
  • Eagle Cement Corporation

In 2016, the following companies completed their initial public offerings:

  • PIZZA – Shakey’s Pizza Asia Ventures Inc. (P3.96 billion) in December
  • SHLPH – Pilipinas Shell Petroleum Corp. (P19.5 billion) in October
  • CHP – Cemex Holdings Philippines Inc. (P25.1 billion) in July
  • HVN – Golden Haven Memorial Park Inc. (P778 million) in June

Must read these other awesome, useful posts!

About the Author

Official SWIFT Code of BDO, BPI, Metrobank, Philippine banks

When sending cash remittances or wire transfer to a bank account in the Philippines (such as BDO, BPI, Metrobank, Landbank, DBP, etc.), you’ll surely need the SWIFT Code of the bank. Look no further because you can find all the SWIFT Codes you need in this list! Make sure you’re using the right bank code ... Read more

How to Waive your Credit Card Annual Fee (BDO, BPI, Metrobank, RCBC, Citibank, UnionBank)

Without a doubt, one of the most annoying fees that credit cardholders have to pay is the annual fee. Majority of cardholders are familiar with this fee and majority of us likely pay this grudgingly year after year after year. In the case of my credit card with BPI (Bank of the Philippine Islands), I’m ... Read more

Why Filipinos do not become business owners or entrepreneurs

For a majority of Filipinos, entrepreneurship does not seem to be a typical, expected path. This is not surprising, considering that in school, students are primarily taught to become employees after graduation. Students train for years to become staff workers, reporting to a supervisor, and just waiting to receive their wages or salaries every month. ... Read more

My experience investing in Mutual Funds in the Philippines

I started investing in mutual funds when I was 22 years old. As an Overseas Filipino Worker (OFW) then, I was fortunate to be able to save some money at that young age because of my work abroad. One time while I was on vacation in the Philippines, I saw a large billboard in EDSA ... Read more

Income Tax Tables in the Philippines (2022)

The Philippines’ new tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law on December 19, 2017 and its implementation began on January 1, 2018. What are the new income tax rates under the TRAIN law? How will TRAIN affect income taxes of individuals and corporations? How is the ... Read more

PSE Stocks Performance under each Philippine President (1987-2021)

Did you know that Philippine stocks were able to achieve an astounding growth of 800% in a span of 30 years? From 1987 until 2018, the Philippine Stock Exchange index (PSEi) rose from 1,000 points to a peak of 9,000 points — generating a return of 800% over 30 years. (The PSEi is an index ... Read more

SSL 2022: Salary Increases for Teachers, Nurses, Gov’t Employees

Good news to all government employees! There’s a new round of salary increases beginning January 1, 2022! Millions of employees of the Philippine government — including public school teachers, nurses and staff of government hospitals, and workers in local and national government agencies, etc. — will be getting an automatic salary adjustment this 2022 under ... Read more

PSE Trading Hours in 2022: What time open, when closed?

Before you take the plunge into stock trading and investing, make sure you understand what stocks are and how the Philippine Stock Exchange (PSE) operates. Unlike other investments that are relatively safe, stock trading is risky and loss of money is a possibility. So before you deep dive into the exciting world of stock trading, ... Read more

Price Floor and Price Ceiling of PSE Stocks

Trading bands in the PSE come in two forms: Price Ceiling, or the upper price limit, and Price Floor, or the lower price limit.

How to Use the PSE Board Lot Table

How much do you need to start trading stocks in the Philippine Stock Exchange (PSE)? How many shares of Globe Telecom (GLO), Ayala REIT Inc. (AREIT), DITO CME Holdings (DITO), or Megaworld (MEG) can you buy or sell at any given time? You probably don’t know it, but these questions can be answered by simply ... Read more

Leave a Comment